First Liberty Power (fka FLPC)

[jotuk6771]

1. This is the latest public released informations regarding the FLPC controlling interest in Stockpile Reserves . Since then , nothing has been confirmed whenever it has been completed as expected or not , so , it can be true . Since then ,No more SEC Filings have been released to cover this operation . So , the control can be 100% or 83% , i don't know ...
But it's not a "Bought Out" , as StockPile Reserves is a LLC , which is not quoted on any market .
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On July 21, 2014, First Liberty entered into a verbal agreement to acquire additional interests in Stockpile Reserves LLC, Central Nevada Processing Co. LLC and SG8 Exploration LLC (collectively the “LLC Companies”) from the three shareholders of the LLC Companies (the “Majority Shareholders”) that represent the significant majority of the 50% interest in the LLC Companies not presently held by First Liberty. This is to be an all-stock transaction, with the maximum consideration for obtaining a 100% interest in the LLC Companies not to exceed 15,000,000 shares of the common stock of First Liberty. The 15,000,000 shares of common stock are to be allocated among the shareholders of the LLC Companies, with each shareholder to exchange their respective interests in the LLC Companies for a pro-rata amount of the allocated shares. The remaining minority shareholders of the LLC Companies (the “Minority Shareholders”) will be provided an opportunity to divest their respective interests in the LLC Companies on the same terms as the Majority Shareholders. First Liberty currently holds a 50% interest in each of the LLC Companies, and upon the completion of the acquisition from the Majority Shareholders, will hold an 86.5% interest in Stockpile Reserves, LLC, and a 94% interest in both of Central Nevada Processing Co. LLC and SG8 Exploration LLC. First Liberty may acquire a 100% interest in each of the LLC Companies if it is successful in obtaining the interests of the Minority Shareholders.

First Liberty has been consolidating the financial statements of Stockpile Reserves LLC and Central Nevada Processing Co. as of the quarterly period ended October 2012. First Liberty’s more recently acquired interest in SG8 Exploration LLC will be consolidated into the period ending July 31, 2014.

Completion of the necessary documentation, corporate and entity level procedures, and other administrative matters associated with the transaction are expected to take up to 45 days.

https://www.sec.gov/Archives/edgar/data/1415305/000159406214000275/form8ka.htm

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But i don't think there was so many shareholders . James Vogan for sure and a few others along with Don Nicholson . In fact , there are multiple LLC 's on which Nicholson appears , those are LLC on which Nicholson and others are dispatching their assets , such as the Fencemaker exploitation rights . Transfering those private assets to FLPC are making them public assets now on which we are shareholders . Nicholson and others associated in those LLC are exchanging those assets against FLPC shares . I don't see anything wrong with it . They become public by FLPC in order to access to Public financing , or they would have remained private ....


2. It's possible , no public information to confirm it .

3. Never heard about it , but it's possible as it can be part of a debt restructure process ...